Guangzhou-based real estate developer Lvjing Holding Co., Ltd, is acquiring Jiangsu Jiayi Education Technology Co., Ltd (Jiayi), a K12 education software and training provider, for 1.2 billion yuan ($172 million), per the company’s latest filing with Shenzhen Stock Exchange (SSE).
With this deal, Lvjing is targeting to expand its business to on-demand education services. Jaiyi, set up in 2011 and located in East China’s Jiangsu province, engages in K12 education software-as-a-service (SaaS), training and online learning. As of 2019, Jiayi claims to have provided services for over 1,800 domestic education training organisations. Besides, it acquired UK’s kindergarten-focused education institute Bambino Group.
